After finalizing your decision to purchase an apartment in Turkey, selecting a suitable property, meeting the seller, and thoroughly discussing all aspects of the transaction, the subsequent crucial phase entails the registration procedure for the real estate. This necessitates the preparation and compilation of a comprehensive set of documents, scheduling a meeting with experts, and meticulously addressing every intricacy involved in the buying and selling process.
Together with Winners Group, you will become the owner of high-yield real estate in Turkey in a few days. We will deal with all the issues for you!
What stages will foreign citizens have to go through when registering real estate?
After the selection of a suitable property, the initial step involves finalizing the buy-sale agreement between the seller and the buyer. In order to accomplish this, only one document is required – a passport.
It is important to note that a signed agreement alone does not facilitate the transfer of ownership from one party to another. Rather, this document serves to establish and record the terms and conditions of the purchase, including the cost, details about the real estate, address, passport information of both the seller and buyer, the procedure and timeline for mutual settlements, as well as the rights and penalties associated with any breach of the agreement. The agreement is prepared in two copies, written in both Turkish and the investor’s native language.
During the signing of the agreement, the buyer is expected to provide a deposit amounting to 5-10% of the total property value, which serves as an indication of their commitment and seriousness towards the transaction.
Registration of a tax number
To complete the real estate purchase in Turkey, it is essential to obtain a TIN, which is a mandatory requirement for all foreign investors. This tax number is necessary to finalize the agreement and is required by all institutions in Turkey. It enables you to register the property, open a bank account, obtain a residence permit, sign utility contracts, and access internet and telephone services.
The TIN can be obtained from the local Tax office (vergi dairesi) at the property’s location. To acquire the TIN, the applicant must submit a corresponding application and present their passport to the tax officer.
With the assistance of the Winners Group agency, you can obtain an individual tax number within just thirty minutes.
Issuing a power of attorney in Turkey
If you do not wish to remain in Turkey for the entire duration and handle the necessary paperwork, we can handle all matters and act as your official representative in government agencies.
In this scenario, it is necessary to obtain a notarized power of attorney for a representative from the Winners Group company. This document is valid for a specific period and is certified by a notary in the presence of a sworn translator. We offer our services as a proxy for our clients at no cost.
While issuing a power of attorney is not obligatory, it can streamline the process of purchasing real estate for an investor and mitigate any potential risks.
Registration of ownership
When purchasing an apartment, various documents are issued. The process involves a scheduled meeting at the Cadastral Office, where the seller, buyer, or their representatives, along with a real estate agent specialist and a state translator, gather. It is during this meeting that the purchase of the house in Turkey is finalized, and the new owner is provided with the TAPU, which serves as a certificate of ownership.
During this stage, it is essential to complete the full payment to the previous owner and settle all taxes and related registration fees. The TAPU is typically received within approximately five days. It is worth noting that multiple owners may be listed on the cadastral certificate.
The TAPU holds significant importance as it is the primary document that legally confirms the ownership of the real estate. Its legitimacy is unquestionable, even in a court of law.
Registration of technical passport and counters
The completion of the process involves the execution of utility agreements and the acquisition of a technical passport for the facility under your ownership.
In the event of purchasing an apartment from a developer, new subscriptions for water and electricity will be provided. However, if the apartment is acquired in the secondary market, it will be necessary to renew the agreements that were previously signed by the former owners.
In Turkey, an individual technical passport is referred to as Iskan. This document is obtained when purchasing apartments in newly constructed buildings. If the apartment is purchased in the secondary market, the Iskan should have already been issued.
The team at Winners Group company is capable of handling all matters pertaining to the registration of Iskan and utility services on your behalf.